Audit Program for Expenses

The Audit program for examination of expenses are as follows:

Audit Objectives:

To determine whether the agency’s funds are utilized only for the purpose for which the funds were made available.

To determine whether the agency’s funds are utilized in accordance with pertinent laws, rules and regulations.

To ascertain whether the expenditures are duly accomplished and approved by the head of the agency or duly authorized representatives.

To ascertain whether the expenditures are properly supported by documents and other evidence to establish the validity, propriety and correctness of the claim.

To determine the correctness of the expense classification.

Audit Procedures

1. Collate and inventory all Disbursement Vouchers
-check timeliness of submission
2. Check completeness of submitted vouchers based
on checks issued for the month
3. Check DVs for adequacy of supporting documents.
4. Take note of lacking documents in WPs. Determine that documents are stamped “PAID” to preclude their subsequent use.
5. Take note of any deficiency in the disbursement, if
any. Verify that amounts are correctly computed.
6. Trace vouchers to entries in the cash disbursement records, noting propriety of account distribution
7. Check correctness of entries in JEV
8. Check propriety of disbursement
9. Check propriety of signatories
10. Check funds availability
11. Account for numerical sequence of check issued
12. Prove footings of disbursement records/books
13. Trace postings from appropriate books of
accounts to GL